How Much Would a $50,000 HELOC Cost Each Month?

A $50,000 HELOC offers flexible access to home equity, but monthly costs can change with interest rates.

Many factors affect your HELOC payment, so it’s important to consider your specific situation and how these factors will impact your rates. Dreamstime/TCA

By Paige Cerulli From Kiplinger’s Personal Finance

With a home equity line of credit (HELOC), you can use your home’s equity to cover costs like renovations, education, or emergency expenses. With Americans collectively holding about $17.3 trillion in home equity, a level not seen in decades, many homeowners now have more borrowing power than they realize.